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Owning a condo in Florida is becoming less attractive: Redfin

Housing Wire

Before the new law was enforced, many condo associations were investing their reserves in government-insured instruments, sacrificing their liquidity to generate a return. As a result, new condo listings are flooding the market in Florida as sellers try to unload their properties at a discount.

HOA 479
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Proprietary Capital completes acquisition of AFR, hires new COO

Housing Wire

residential mortgage market and housing-related assets. AFR offers agency, nonagency and government lending products. Proprietary Capital expects to add products and gain market share across all channels after the ARF acquisition, the company said in a statement.

Lending 368
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How mid-year market shifts are impacting originators

Housing Wire

Mortgage professionals never know what the industry will throw at them, so staying on top of market shifts can help originators prepare for what’s to come. De-risking efforts by GSEs, migration shifts, demographic changes and more are pushing the market to adapt to meet the needs of today’s borrowers. Changing Borrower Activity.

Marketing 370
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CFPB proposes rule to bolster PACE loan borrower protections

Housing Wire

The Consumer Financial Protection Bureau (CFPB) announced on Monday a proposed rule that seeks to bolster consumer protections for borrowers seeking Property Assessed Clean Energy ( PACE ) financing for home renovations. We are proposing new rules that would require sensible safeguards on these clean energy loans.”

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Housing markets with flood and wildfire risk are booming

Housing Wire

Homeowners and renters may not have felt the full impact of climate-related disasters since, oftentimes, they do not end up directly paying for renovations or repairs necessitated by an adverse climate event, Fairweather said.

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The share of owner-occupants buying foreclosures has doubled — here’s why

Housing Wire

The share of distressed property auction buyers who say they are owner-occupants nearly doubled over the last year, boosted by a game-changing government policy that took effect last August. They are able to pay with cash, take on bigger renovations and provide current occupants with a graceful exit.

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Fintech Hitch launches new HELOC platform

Housing Wire

Austin fintech startup Hitch has rolled out a HELOC platform to help homeowners tap into more than $100 billion in government grants available for home renovation. Most non-banks market HELOCs but they are truly offering HELOANs. One of the biggest benefits for Hitch users is speed, the company said.